Guggenheim Initiates Coverage on Facebook (FB)

Guggenheim initiated coverage on shares of Facebook (NASDAQ:FB) in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $150.00 price target on the social networking company’s stock. Guggenheim’s price target would suggest a potential upside of 9.15% from the stock’s previous close.

FB has been the topic of a number of other reports. Royal Bank of Canada reissued a “buy” rating and set a $195.00 price target on shares of Facebook in a research report on Monday, September 3rd. Robert W. Baird reissued a “buy” rating and set a $195.00 price target on shares of Facebook in a research report on Monday, September 3rd. Stifel Nicolaus reissued a “buy” rating and set a $202.00 price target on shares of Facebook in a research report on Thursday, August 23rd. Wells Fargo & Co reissued a “buy” rating and set a $220.00 price target on shares of Facebook in a research report on Thursday, August 23rd. Finally, Barclays reissued a “buy” rating and set a $180.00 price target on shares of Facebook in a research report on Friday, September 14th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $191.80.

FB opened at $137.42 on Thursday. Facebook has a 52 week low of $126.85 and a 52 week high of $218.62. The firm has a market cap of $405.63 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 0.88 and a beta of 0.57.

Facebook (NASDAQ:FB) last released its earnings results on Tuesday, October 30th. The social networking company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.30. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The firm had revenue of $13.73 billion during the quarter, compared to analyst estimates of $13.82 billion. During the same quarter in the previous year, the business earned $1.59 EPS. The business’s quarterly revenue was up 32.9% compared to the same quarter last year. Equities analysts forecast that Facebook will post 7.37 earnings per share for the current fiscal year.

In other Facebook news, insider Susan J.S. Taylor sold 2,268 shares of Facebook stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $135.81, for a total value of $308,017.08. Following the sale, the insider now directly owns 2,112 shares in the company, valued at approximately $286,830.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Sheryl Sandberg sold 55,000 shares of Facebook stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $166.07, for a total transaction of $9,133,850.00. The disclosure for this sale can be found here. Insiders sold a total of 518,103 shares of company stock worth $79,159,534 over the last ninety days. 17.23% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Townsend & Associates Inc increased its stake in shares of Facebook by 6.6% during the 2nd quarter. Townsend & Associates Inc now owns 4,077 shares of the social networking company’s stock worth $792,000 after purchasing an additional 254 shares during the last quarter. Winslow Evans & Crocker Inc. increased its stake in shares of Facebook by 2.2% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 12,658 shares of the social networking company’s stock worth $2,462,000 after purchasing an additional 274 shares during the last quarter. Valmark Advisers Inc. increased its stake in shares of Facebook by 18.6% during the 2nd quarter. Valmark Advisers Inc. now owns 1,797 shares of the social networking company’s stock worth $349,000 after purchasing an additional 282 shares during the last quarter. Harvest Group Wealth Management LLC increased its stake in shares of Facebook by 2.4% during the 1st quarter. Harvest Group Wealth Management LLC now owns 12,430 shares of the social networking company’s stock worth $1,986,000 after purchasing an additional 286 shares during the last quarter. Finally, Truewealth LLC increased its stake in shares of Facebook by 7.1% during the 2nd quarter. Truewealth LLC now owns 4,306 shares of the social networking company’s stock worth $837,000 after purchasing an additional 287 shares during the last quarter. Hedge funds and other institutional investors own 58.42% of the company’s stock.

Facebook Company Profile

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.

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Analyst Recommendations for Facebook (NASDAQ:FB)

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